''The Accumulation of Capital'' (full title: ''The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism'', ''Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus'') is the principal book-length work of
Rosa Luxemburg
Rosa Luxemburg (; ; pl, Róża Luksemburg or ; 5 March 1871 – 15 January 1919) was a Polish and naturalised-German revolutionary socialism, revolutionary socialist, Marxism, Marxist philosopher and anti-war movement, anti-war activist. Succ ...
, first published in 1913, and the only work Luxemburg published on economics during her lifetime.
Structure
It is in three sections as described below:
# The Problem of
Reproduction
Reproduction (or procreation or breeding) is the biological process by which new individual organisms – "offspring" – are produced from their "parent" or parents. Reproduction is a fundamental feature of all known life; each individual or ...
# The Historical Exposition of the Problem
## Round I:
Sismondi--
Malthus
Thomas Robert Malthus (; 13/14 February 1766 – 29 December 1834) was an English cleric, scholar and influential economist in the fields of political economy and demography.
In his 1798 book ''An Essay on the Principle of Population'', Mal ...
vs.
Say
Say may refer to:
Music
*''Say'' (album), 2008 album by J-pop singer Misono
* "Say" (John Mayer song), 2007
*"Say (All I Need)", 2007 song by American pop rock band OneRepublic
* "Say" (Method Man song), 2006 single by rapper Method Man
* "Say" ( ...
--
Ricardo
Ricardo is the Spanish and Portuguese cognate of the name Richard. It derived from Proto-Germanic ''*rīks'' 'king, ruler' + ''*harduz'' 'hard, brave'. It may be a given name, or a surname.
People Given name
*Ricardo de Araújo Pereira, Portugu ...
,
MacCulloch
The origins of Clan MacCulloch are unknown, but there is a consensus that the family was one of the most ancient families of Galloway, Scotland, and a leading medieval family in that region. Despite the obscurity of the early history of the c ...
## Round II: The Controversy between
Rodbertus and
von Kirchmann
## Round III: Struve-Bulgakov-
Tugan Baranovski vs. Vorontsov-Kikolayon
# The Historical Conditions of Accumulation
Synopsis
In the polemic, she argued that capitalism needs to constantly expand into noncapitalist areas in order to access new supply sources, markets for surplus value, and reservoirs of labor.
According to Luxemburg, Marx had made an error in ''Capital'' in that the proletariat could not afford to buy the commodities they produced, and therefore by his own criteria it was impossible for capitalists to make a profit in a closed-capitalist system since the demand for commodities would be too low, and therefore much of the value of commodities could not be transformed into money. Therefore, according to Luxemburg, capitalists sought to realize profits through offloading surplus commodities onto non-capitalist economies, hence the phenomenon of imperialism as capitalist states sought to dominate weaker economies. This however led to the destruction of non-capitalist economies as they were increasingly absorbed into the capitalist system. With the destruction of non-capitalist economies however, there would be no more markets to offload surplus commodities onto, and capitalism would break down.
Reception
''The Accumulation of Capital'' was harshly criticized by both Marxist and non-Marxist economists, on the grounds that her logic was circular in proclaiming the impossibility of realizing profits in a close-capitalist system, and that her "underconsumptionist" theory was too crude.
Her conclusion that the limits of the capitalist system drive it to imperialism and war led Luxemburg to a lifetime of campaigning against militarism and colonialism.
It was however praised by prominent Marxist theorist
György Lukács
György Lukács (born György Bernát Löwinger; hu, szegedi Lukács György Bernát; german: Georg Bernard Baron Lukács von Szegedin; 13 April 1885 – 4 June 1971) was a Hungarian Marxist philosopher, literary historian, critic, and aesth ...
, who saw her work as a natural continuation of Marxist theory truly in the spirit of Marx, and also condemned those who criticize it, calling them bourgeois and revisionist.
See also
*''
The Wealth of Nations
''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the '' magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in ...
''
*
''Capital'', Volume II
*
Capital accumulation
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form ...
*
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
The price of a co ...
*
Imperialism
Imperialism is the state policy, practice, or advocacy of extending power and dominion, especially by direct territorial acquisition or by gaining political and economic control of other areas, often through employing hard power (economic powe ...
*
International loan
International is an adjective (also used as a noun) meaning "between nations".
International may also refer to:
Music Albums
* ''International'' (Kevin Michael album), 2011
* ''International'' (New Order album), 2002
* ''International'' (The T ...
*
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulation ...
References
External links
*
The Accumulation of Capital' at the
Marxists Internet Archive
Marxists Internet Archive (also known as MIA or Marxists.org) is a non-profit online encyclopedia that hosts a multilingual library (created in 1990) of the works of communist, anarchist, and socialist writers, such as Karl Marx, Friedrich En ...
{{DEFAULTSORT:Accumulation of Capital, The
1913 non-fiction books
Books about capitalism
Marxist books
Books about imperialism
Works by Rosa Luxemburg
Imperialism studies